Wu said that according to Greeks live, affected by the multi-party sell-off, the crypto market suffered a heavy blow, BTC fell to $57,000, and ETH fell to $3,100. Options market data showed that BTC's main short-term and medium-term IV rose by 10%, Dvol rose by 3%, and the increase in ETH-related parameters was slightly lower than BTC, and Skew was obviously deflected in a bearish direction. BTC's large bearish trading volume is obviously increasing, and the trading distribution is relatively complex. The 58,000Put transaction was the largest in the next week. Judging from the options data, the whales are not too worried about the potential risk of decline at present. They are mainly adjusting their positions for last week's quarterly delivery, especially ETH. The whales have shown low volatility expectations.